Bitcoin’s Fed relief may not last as economists see December hike, Bitunix says
BTC when published $83,059Now $80,577 ▼ −2.99% since it was published
Geopolitical tensions and high oil prices could undermine Bitcoin despite pause in rate hikes. An expected Federal Reserve pause next week may offer Bitcoin little relief, according to a market update from crypto derivatives exchange Bitunix, which pointed to rising oil risks and economists’ unanimous expectation of another rate hike in December. A Reuters poll cited in the analysis found that 94 of 100 economists expect the Fed to hold rates at 3.75%–4.00% at its Oct. 27–28 meeting. All 100, however, expect a hike in December, and nearly 60% forecast rates reaching 4.00%–4.25%. Bitunix said an October pause would not necessarily mark the end of the tightening cycle.
First reported by Crypto Briefing. This page is a short excerpt; the full text is theirs.
